LLY - Beyond Spring teams up with Lilly to develop protein degraders

Beyond Spring (BYSI) subsidiary Seed Therapeutics inks a research collaboration and license agreement with Eli Lilly (LLY) aimed at discovering and developing novel molecules that provide therapeutic benefit via targeted protein degradation.Seed has pioneered a strategy called “molecular glue” to induce the protein degrading machinery which is present in all cells to recognize and degrade the disease-causing protein that is not normally targeted for elimination. Its molecular glue program focuses on new chemical entities with more drug-like chemical properties, differentiated from the strategy of developing proteolysis-targeting chimeras (PROTACs).Under the terms of the deal, Seed will receive $10M upfront, up to $780M in milestones and tiered royalties on net sales.LLY is up 1% premarket on light volume.

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Beyond Spring teams up with Lilly to develop protein degraders